Lionshead Wealth Management LLC Makes New Investment in AST SpaceMobile, Inc. $ASTS

Lionshead Wealth Management LLC purchased a new stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the second quarter, HoldingsChannel.com reports. The fund purchased 5,000 shares of the company’s stock, valued at approximately $234,000.

Several other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of AST SpaceMobile by 79.9% during the first quarter. Victory Capital Management Inc. now owns 67,763 shares of the company’s stock worth $1,541,000 after acquiring an additional 30,101 shares during the period. Private Advisor Group LLC increased its holdings in AST SpaceMobile by 15.8% during the 1st quarter. Private Advisor Group LLC now owns 21,611 shares of the company’s stock worth $491,000 after purchasing an additional 2,942 shares in the last quarter. Close Asset Management Ltd raised its stake in shares of AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock valued at $41,000 after purchasing an additional 760 shares during the period. Cetera Investment Advisers lifted its holdings in shares of AST SpaceMobile by 27.1% in the first quarter. Cetera Investment Advisers now owns 110,161 shares of the company’s stock valued at $2,505,000 after purchasing an additional 23,478 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of AST SpaceMobile in the first quarter valued at about $1,547,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $58.01 on Thursday. The firm has a market capitalization of $20.80 billion, a P/E ratio of -46.78 and a beta of 2.46. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $65.96 and its two-hundred day moving average price is $50.19. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The firm had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The business’s revenue was up 1236.4% on a year-over-year basis. During the same period last year, the business earned ($1.10) EPS. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ASTS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of AST SpaceMobile in a research report on Monday. William Blair began coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating for the company. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price for the company. in a research report on Tuesday, October 7th. Finally, Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $45.27.

Insider Buying and Selling

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $192,755. This trade represents a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is currently owned by insiders.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.